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20% of profit as bonus
A press release from the Chief Minister’s Office stated that a bonus package of Rs 240 crore, similar to Coal India Limited, would be extended to Singareni workers.
- KCR announces bonanza for Singareni workers
- Each worker will get Rs.40,000
Hyderabad: It is raining money as far as 61,000 coalminers in Singareni Collieries are concerned. Telangana Chief Minister K Chandrasekhar Rao has announced that the employees of collieries would get 20 per cent of the profit earned by the company during last financial year. This means that the workers would get about Rs 40,000 each as bonus.
A press release from the Chief Minister’s Office stated that a bonus package of Rs 240 crore, similar to Coal India Limited, would be extended to Singareni workers. The exact amount each employee would be linked to his performance during the year like the number of work days and his performance in excavation of coal from underground mines.
The company used to give 18 per cent bonus in the undivided Andhra Pradesh, the press release said.
Singareni has achieved an all time high of Rs 418.73 crore in the last fiscal (April1, 2013-March 31, 2014).
Twenty per cent of profit share accounts for Rs 83.75 crore. The government has also decided to offer jobs to 3100 under dependents category. This has been a long pending demand of the Singareni unions to provide a permanent livelihood to families of workers who suffered serious injuries while on duty.
